Lakeland Dairies milk lorry.
Lakeland Dairies has increased its base milk price for March supplies by 0.5c/l, announced an input support payment of 1c/l and introduced support payment for feed purchases.
A base price of 41.9c/l (3.6% butterfat and 3.3% protein) will be paid for March milk in the Republic of Ireland (ROI). The base price has increased by 0.5c/l and also includes the 0.5c/l Sustainability Incentive Payment. A separate 1c/l Input Support Payment is being paid on top of the base price. This is the second time this year Lakeland Dairies has introduced an Input Support Payment for its suppliers.
The all-in base price for ROI suppliers is 42.9c/l for milk supplied in March.
In Northern Ireland (NI), a base price of 34.5p/litre will be paid for milk supplied in March. The base price has increased by 0.5p/l and also includes the 0.5p/l Sustainability Incentive Payment. A 0.8p/l Input Support Payment will be paid to all NI suppliers. The all-in price for suppliers in NI is 35.3p/l for March.
Feed support
As well as the increased base price and the introduction of an Input Support Payment, Lakeland Dairies is offering support for farmers purchasing feed through Lakeland Dairies Agribusiness. The €20/t and £20/t feed rebate in place since November has been increased to €30/t and £30/t. A separate €10/t and £10/t support for straights has been introduced to support farmers in stretching silage stocks.
Lakeland said difficult weather conditions in Ireland are also having an impact on farmers across Europe and as a result, spring milk volumes are tempered thus far albeit it is still early in the spring milk season.
“This is helping to maintain a delicate balance between supply and demand.
“Commodity prices have settled with general stability in the global dairy market, however, there is a continued cautious approach being adopted by buyers at present with no strong surge in demand.
“We fully recognise the pressure the continued inclement weather is having on farmers and their businesses. We have always sought to deliver as much as we possibly can to our farm families and, for the second time this year, we have introduced an Input Support Payment. We have increased and extended the hugely popular feed rebate scheme which has been in place since November. Lakeland Dairies will continue to explore all options to support our farmers through this challenging time,” the company said in a statement today.
